Landlord Tips On Using Letting Agents In Edinburgh Landlords in Edinburgh may be concerned about using letting agents to manage their properties. Unlike property agents, letting agents in Edinburgh do not have a clear regulatory framework that governs their operations, leaving them more or less free to decide the extent or services that they can offer. There is no doubt that a good letting agent will reduce the workload and stress of managing your properties. However, what steps can you take to avoid the potential pitfalls of using a letting agent? The solution is to self manage your property. Self Managing Your Property When you get a suitable tenant and he or she checks in, the bulk of the work will have been done. The most you can do after this point is to renew your landlord insurance, ensure the tenant pays rent on time, carry out an annual gas safety check and maintain the property. If you find a good tenant, managing your property will be easy. You can use letting agents to provide you with Tenant Find service. The service includes signing up and checking in the tenant, completing the inventory schedule, taking the first month's rent and tenant bond, vetting and checking the tenant references, making viewing appointment and assisting tenants with viewing the property and finally, promoting the property. A good letting agent will follow the legal steps in ensuring he or she gets you a good tenant. However, it is always advisable to check the paperwork of the tenant before you formally offer your property. Carrying out a background check on the tenant can save you from future problems that may be evident from the history of the tenant. In case of any inconsistencies in the documents provided by the tenant, ask for an explanation. If the explanation provided is not sufficient enough, reject the tenant. Ensure the letting agent you choose is using a Tenancy agreement whose terms and conditions are fair and you can abide by without compromising your property or going at a loss.
Published on Jun 2, 2012